Kai Co paud $18,000 of accounts payable owed to Coat Co by giving cash of 4,500 and isusing a note payable for the balance. The journal entry by Coat Co to record transaction would a. not change total assets, liabilites, or owners' equity b. increase owners equity c. decrease liabilities d. increase assets   answer is A, how are asstes and liabilites not affected?

D1. Account

Concord Hills Ltd. issued five-year bonds with a face value of $180,000 on January 1. The bonds have a coupon interest rate of 5% and interest is paid semi-annually on June 30 and December 31. The market interest rate was 3% when the bonds were issued at a price of 109. Determine the balance in the Bonds Payable account immediately following the first interest payment. Balance in bonds payable account

A business renders services to a customer for OR16,000 on account. Which account is credited? Select one a. Accounts payable b. Cash c Accounts receivable d. service revenue CEA MYCe o o o o